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Jun 7, 2016

China embarks on tech shopping spree for German robots and pianos

Posted by in categories: business, economics, robotics/AI

China has been on a shopping tour of Germany, splurging on a string of key industrial companies in the past few weeks as Beijing moves to acquire the country’s fabled technological know-how and turn its own products into global brands.

But resistance to the offensive is growing following a 5 billion euro ($7.7 billion) bid last month by Chinese home appliance group Midea for leading German industrial robot maker Kuka.

The size of the play set alarm bells ringing across the business and political establishment of Europe’s biggest economy.

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